According to the text, European countries' growth rates of real GDP per capita Select one: O a. decreased in the first two decades after 1980 and then increased in the following two decades. O b. decreased during each of the four decades beginning 1980. O c. followed a random pattern during the four decades beginning 1980. O d. remained constant during each of the four decades beginning 1980.
Q: If nominal GDP rises: real GDP must fall. real GDP must also rise. real GDP may either rise or fall.…
A: Nominal GDP is the value of the basket of all goods and services at the current year prices. So,…
Q: Q5. At 5% annual interest, what is the difference in the present and future value of P100 paid at…
A: Given, Annual Interest Rate : 5%Payment Made : P100Term : 10 years
Q: Behind the Supply Curve: Inputs and Costs – End of Chapter Problem Consider Daniella's…
A: In the short run, at least one of the factors of production is fixed and in the long run, all of the…
Q: 4) Mitsven Surfboard Inc. is a company in San Diego that shapes and sells surfboards. In 2018 their…
A: We will answer the first question since the exact one was not specified. Please submit a new…
Q: Say that neither labor nor machines are fixed but there is a 50 percent quick-order premium paid for…
A: Explicit costs and revenues are those financial transactions that are directly related to a decision…
Q: Whether oligopoly is analyzed from a game theoretic framework or modeled as a cartel, the incentive…
A: Oligopoly markets are those that are dominated by a small number of suppliers. They exist in every…
Q: Determine the point elasticity n of the demand equation 329- 5000 + 2000 when p 50 On= 0.002; demand…
A: According to the question, demand function given that 3p2q = 5000 + 2000 p2 and, p = 50
Q: Which of the following is required to create a sole proprietorship? a) Nothing b) An intention…
A: In economics, business is defined as a sector that helps in the development of the economy and the…
Q: Special Purchase and Resale Agreements 1) relieve undesired upward pressure on the overnight…
A: The answer is - 2) relieved undesired upward pressure on the overnight interest rate
Q: What does the B curve reflect and what do points on, below and above the BP curve indicate?
A: The BP curve shows which I and Y combinations result in equilibrium in balance of payments. For a…
Q: Q2. Maria loaned an amount of 100,000Php payable in 15 equal quarterly instalments. The first…
A: Compounding basically refers to an asset's ability that can generate returns that are then…
Q: ATC Avc K FOR EACH DAGRAM, FIND R 1.Quantity Hi 2. Prce IN 3. TR 4. Cost per unit 5 TC A 13 E F
A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Assume that you are managing an electric utility that must minimize the cost of producing the…
A: Energy consumption is increasing day by day, in order to meet the demand there is a need to focus on…
Q: This is a symptom of a recession: Real salary increases Promotions occur and bonuses increase O…
A: Recession refers to a period of time when GDP declines for two consecutive quarters.
Q: ma ATC Avc K FOR EACH DAGEAM, FIND 1. Quantity Hi 2. Pnce 3. TR 4. Cost per unit 5 TC 6. Voriabe…
A: Dear Student as you have posted two various and different diagrams which makes it two multiple…
Q: Q3. IEdeas signed a contract to lease a building at P60,000 a year with an annual increase of P1,000…
A: The key to correctly valuing future cash flows, earnings, or debt obligations is in determining the…
Q: Quantity of cola 600 400 200 300 Quantity of pizza A consumer has a total budget of $800 to spend on…
A: "Budget line represents all the possible combinations of two items that can be purchased at given…
Q: Find equilibrium income when investment demand is 400 and C = 0.8Y. (b) Would output be higher or…
A: Equilibrium in the market occurs where production equals total demand.
Q: Economists who support a hands - off approach believe that a cause of business cycles is O A.…
A: The fluctuation in the economic activity is tracked by the business cycle. In an economy, the fall…
Q: 4. Net capital outflow and net exports An open economy interacts with the rest of the world through…
A: Given; Net capital outflow= Export A trendy boutiques in Bangkok purchased entire inventory of a…
Q: If a bank had $200 million in demand deposits and faced a 40 percent reserve requirement, it would…
A: Total demand deposit = $200 Reserve requirment = 40% We have to calculate the value of required…
Q: Using the following data, solve for the depreciation and book value and prepare tabulation of book…
A: During the useful life of a physical asset, the asset's cost is depreciated using an accounting…
Q: A coupon bond will make 20 annual coupon payments of $5,000 each and will pay a face value of…
A: The annual coupon value is $5000. percentage of face value=5000100000*100=5% The coupon rate is…
Q: The price elasticity of gasoline supply in the U.S. is 0.6. If the price of gasoline rises by 10%,…
A: Given: Price elasticity of gasoline supply in U.S. = 0.6 Rise in Price of gasoline = 10% To Find:…
Q: Teresa is considering getting a part-time job that pays a monthly income of $1,500. Currently,…
A: Question solved below,
Q: In the Keynesian theory, money wages do not fall response to a decrease in aggregate demand . a.…
A: Keynes always believed in the notion of sticky price. Here sticky prices include nominal wages. In…
Q: What are the potential issues with fiscal policy?
A: The use of govt spending and taxation policies to impact economic circumstances, particularly…
Q: Overview of the Macroeconomy and Industry.
A: Macroeconomics related to aggregate economic variables. Macroeconomics focuses on the performance of…
Q: QUESTION 3 Use the figure below to answer the following questions: Price and cost (dollars per tonne…
A: The graph shows that there is the presence of negative externality. There will be over production of…
Q: In the short run, what happens to the solow growth model when there is technological advancement?…
A: The solow model argues that over the long run, growth depends on the technological changes. the…
Q: Exchange Rate Table for Month 1 US Dollar $1 = British Pound 1 £ = Chinese Yuan 1 Y =…
A: We see that the exchange rate of 1 USD in the first month is 113.04 Yen, whereas the exchange rate…
Q: Explain both demand-pull and cost-push inflation and whether after easing on Covid-19 restrictions…
A: Cost-push inflation Cost-push inflation is defined by economists as a situation in which the supply…
Q: 5. Saving and net flows of capital and goods In a closed economy, saving and investment must be…
A: In the circular economy, money is utilized to purchase goods and services. Goods and services go in…
Q: (a). If the firm is currently producing 90 units of output at input mix X, which of the following…
A: The isoquant graph shows that the different combinations of inputs yield the same output level to…
Q: Please refer to the figure below. The equation for p = 105-0.005D 25,000+65D w Y D (units sold) How…
A: The quantity of a product that customers are ready to purchase and able to acquire at a given price…
Q: price level LRAS inflation rate (%) JA SRAS B AD1 F AD2 AD3 quantity of output Refer to the Figure…
A: Phillips curve shows an inverse relationship between inflation rate and unemployment rate. It…
Q: Note: Round your answers to the nearest cent. Big Mac Index: January 2019 Local Price Actual…
A: The Big Mac Index is a price index supported purchasing power parity theory. understand what it's to…
Q: Imagine that the markup practiced by firms in an economy is 5% The degree of the protection of…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: According to the Austrian business cycle theory, a key feature of a deflationary depression is A)…
A: According to the Austrian business cycle, business cycle occurs due to excessive credit created by…
Q: How many days will it take for a sum of $2,000 to eam $50 inrest if it is deposited in an account…
A: The formula for simple interest is as follows:- SI = (P*R*T) / 100 Where P is the principal amount R…
Q: Consider an economy with the following situation: C = 50 +0.8 Yd I=100;T= 100 G =150 a. To…
A: Aggregate expenditure is the sum of consumption, investment and government purchases. AE = C + I +…
Q: Consider the game having the following normal form. Which of the following strategies of the column…
A: We need to check the dominant strategy for column player so we do not want the payoffs of row…
Q: Suppose that banks hold $20 billion in total reserves and the public holds $5 billion in cash.…
A: Since the question you have posted consists of multiple parts, we will answer the first three…
Q: The monetarist emphasis the inherent stability of the country in the long-run. They also further…
A: The monetarist hypothesis is an economic theory that claims that variations in money supply are the…
Q: A researcher is studying determinants of Google Scholar citations. Using a sample of 625 academics,…
A: We have estimated the regression equation C^=82+1.2Y ... (1) Where Y is the number of…
Q: Question 8 When the demand curve shifts rightward Prices go up and quantity sold goes down O Prices…
A: The graphical representation of a demand schedule for an item or a service is known as a demand…
Q: Question 6 Conservative financing strategy provides long-term funds based on the minimum…
A: In an economy, people make consumption and savings decisions based on their rational behavior and by…
Q: The most important force determining fluctuations of foreign exchange rates is OA. expectations of…
A: We will answer the first question since the exact one was not specified. Please submit a new…
Q: A challenger runs against an incumbent in a political party nomination. Each candidate can choose to…
A: Given, Two Players : Challenger (C) and Incumbent (I). Two Strategies : Follow and DeviateThe…
Q: Secured loans are backed up with assets that the lender can claim in case of default. True or…
A: Secured loans are the loans in which borrower kept assets as a collateral to lender which then gives…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Suppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year. How long will it take for U.S. real GDP per capita to double at this growth rate? If this growth rate continues, what will U.S. real GDP r capita be in 70 years? S Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year) How long will it take for U.S. real GDP per capita to double at this growth rate? years (round to nearest year) If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S years (round to nearest year)The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. During 1960-2010, which countries were able to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?When economists speak of "long-run economic growth, they mean increasing the Select one: O a. real GDP of a country. O O O b. geographic size of a country. c. per capita real GDP of a country. d. population of a country. According to the instructors calculations, the average person in the United States spends Select one: O O O O a. approximately 5 and ½ hours b. about 3 and ½ hours c about 8 hours d. 45 minutes On a graph with savings on the x-axis and real interest rates on the y-axis, the supply of savings curve following the law of supply would: Select one: O O O O a. be horizontal a day in activities needed to continue living (what he described as not dying b. have a negative slope c. be vertical d. have a positive slope
- Consider the economies of Tralfamadore and Sporon, both of which produce agricultural products using only land and labour. The following tables show the supply of land, population size, and real GDP for these two economies from 2020 to 2023. Complete the last column of the following two tables by calculating real GDP per capita for the two economies. Tralfamadore Land Real GDP (Dollars) Real GDP per Capita (Dollars) Year (Hectares) Population 2020 20,000 500 4,500 2021 20,000 1,000 10,000 2022 20,000 1,500 16,500 2023 20,000 2,000 24,000 Sporon Land Real GDP Real GDP per Capita (Dollars) Year (Hectares) Population (Dollars) 2020 20,000 1,000 15,000 2021 20,000 2,000 28,000 2022 20,000 3,000 36,000 2023 20,000 4,000 40,000 Rapid population growth tends to threaten economic growth in economies with higher or lower land-labour ratios.The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. During 1960-2010, which countries failed to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?Suppose the government decides to reduce the Department of Science and Technology's budget for research. Assume this cancelled investment in research could have paid off in terms of useful innovations that increase labor efficiency. Which of the following statements is true under the Solow growth model with population growth and technological progress? In the steady state, the growth rate of the country's output per capita is expected to decrease. O b. In the steady state, the growth rate of the country's output per capita is expected to increase. O c. All the other statements are false. d. In the steady state, the growth rate of the country's total output is expected to increase.
- If the capital stock equals 200 units in year 1 and the depreciation rate is 5 percent per year, then in year 2, assuming no new or replacement investment, the capital stock would equal_____ units. Select one: a. 195 b. 210 c. 190 d. 200India's Economy Hits the Wall Just six months ago, India was looking good. Annual growth was 9%, consumer demand was huge, and foreign investment was growing. But now most economic forecasts expect growth to slow to 7%-a big drop for a country that needs to accelerate growth. India needs urgently to upgrade its infrastructure and education and healthcare facilities. Agriculture is unproductive and needs better technology. The legal system needs to be strengthened with more judges and courtrooms. Source: BusinessWeek, July 1, 2008 Explain potential sources for faster economic growth in India suggested in this news clip. Potential sources for faster economic growth in India include O A. increasing consumer demand because it increases real GDP O B. slowing the population growth rate because a slower population growth rate means that fewer consumption goods can be produced and more capital goods can be produced OC. announcing high economic growth forecasts because firms will produce the…Consider the endogenous growth model with two sectors: manufacturing firms and research universities. Which of the following affect/s the steady-state growth rate of output in this model? (i) stock of knowledge (ii) fraction of labor force in universities (iii) saving rate O a. Only (ii) O b. Only (iii) O c. Only (i) O d. (i), (ii), and (iii)
- Which impacts economic growth? O a decrease in the productivity of labor O an increase in the proportion of the population that is college educated O an increase in the average wage rate paid to workers O an increase in the standard of livingWhich government policy promotes economic growth? O A. increasing the interest rate charged on student loans B. implementing a fiscal policy that increases inflation C. implementing a monetary policy that increases inflation O D. building infrastructure and providing public goods Reset SelectionSuppose, a country X has a GDP level of 4, 50,000 and a growth rate of 10% in 2007(calculated at the end of the fiscal year 2007). The experts predict that the growth ofthe economy of Country X will gradually slowdown in the coming years. Moreprecisely, they foresee the following growth rates for the future:2007 – 2010 = 10%2010 – 2013 = 9%2013 – 2016 = 7.5%2016 – 2019 = 5%2019 – on = 1% Hint: The list above should be read as saying that, for instance, the growth rate fromthe end of the fiscal year 2007 until the end of 2010 will be 10 %, then from the end of2010 until the end of 2013 it will be 9% and so on. Assuming that the predictions of the experts listed above are accurate, when in thefuture will Country X’s GDP double compared to the GDP level of 2007? Consider now the more optimistic scenario in which the economy does not slow downand the current growth rate of 10% remains constant in the coming years. How longwill it take for the GDP level to double in this scenario? Express…